In spite of rising regional tensions, Indian pharmaceutical companies anticipate little if any interruptions in their trade with Israel. Although concerns about rising crude prices and the cost of export shipping insurance have been voiced, the pharmaceutical industry is nevertheless upbeat. Israel makes up a small portion of India’s vast export market, which spans over 200 nations.
In FY 2022–2023, the two countries’ bilateral commerce in goods reached $10 billion, with $92 million of that amount coming from pharmaceutical exports from India. According to the Indian embassy in Tel Aviv, India is Israel’s second-largest commercial partner in Asia and seventh-largest partner globally.
An Indian pharmaceutical behemoth called Sun Pharmaceuticals owns 78.48% of Israel’s Taro Pharmaceutical Industries. Given the crisis, Taro’s operations could potentially be disrupted if staff members are called to active duty in the Israeli defence forces. Sun Pharma hasn’t yet made any statements about this, though. The present unrest may increase Israel’s need for essential medications and strengthen the bilateral pharmaceutical relationship. India may be prepared to meet a considerable increase in pharmaceutical demand from the Palestinian territories at the same time.